Dayton’s congressman once sought to block government ownership of private companies

Turner, a Republican, then introduced a constitutional amendment in the House — an amendment that drew more than 100 co-sponsors early on — that would prohibit the United States government from owning any stock in corporations.

“A growing number of Americans are concerned about the future of capitalism in this country,” Turner said in a statement at the time. “The current economic recession has opened the door to government intervention in private enterprise on a scale that many have never seen.”

Turner at the time was concerned about Obama administration moves in what was called the “Troubled Asset Relief Program,” an effort to guide disposition of automotive plants and assets, including at one point, the former General Motors SUV assembly plant in Moraine.

Today, that plant produces automotive glass under Fuyao Glass America, a China-based global manufacturer of auto safety glass.

But in 2009, Turner objected to the federal government staking a claim in GM, which was struggling to emerge from the Great Recession and a stint under bankruptcy protection.

Said Turner back then: “A majority of Americans oppose the government take-over of the auto manufacturers and want the government out as soon as possible. Just as troubling as the government’s rapid control over private industry, is its failure to present an exit strategy.”

A spokeswoman for Turner said he was traveling and may make a statement on the matter later.

But a few Republican office-holders, and some conservative figures, have expressed unease with the Intel investment.

“State-sponsored capitalism?” Rep. Warren Davidson, R-Troy, said on X. “America will not outperform China by being more like China.”

“Terrible idea” Kentucky Sen. Rand Paul said in a post on X . “If socialism is government owning the means of production, wouldn’t the government owning part of Intel be a step toward socialism?”

Rep. Thomas Massie, R-Ky., and Sen. Thom Tillis, R-N.C., also panned the move.

However, Sen. Todd Young, R-Ind., said he was encouraged that Trump wanted “to ensure there’s at least one viable U.S. entity in the domestic semiconductor supply chain.”

The Trump administration has allied itself with Intel without a vote taken by members of Congress.

Attempts to amend the Constitution are always an uphill battle. Constitutional amendments are ratified only after two-thirds of the House and Senate approve them. Then three-fourths of the states must affirm the amendment.

The move was made after the U.S. government took a recent stake in MP Materials and has an oversight role over certain decisions made by the new owner of U.S. Steel.

Trump said the Intel agreement sprang from talks with the company’s chief executive, Lip-Bu Tan.

Trump said the government paid nothing for the shares. “This is a great deal for America and, also, a great deal for INTEL,” he said on his Truth Social account.

“This deal delivers for the American people, strengthens U.S. chipmaking, and makes clear that America is leading the way in the tech industry,” the U.S. Department of Commerce said on X.

Only earlier this month, Trump was calling on Intel’s CEO to resign.

Intel, in its own statement, said the U.S. government’s $8.9 billion investment in Intel common stock will be funded by a remaining $5.7 billion in grants previously awarded, but not yet paid, to Intel under the CHIPS and Science Act, as well as $3.2 billion awarded to the company as part of the Secure Enclave program.

“As the only semiconductor company that does leading-edge logic R&D and manufacturing in the U.S., Intel is deeply committed to ensuring the world’s most advanced technologies are American made,” Tan said in the release.

Leaders in Ohio have been disappointed with Intel dramatically slowing construction of chip fabrication plants near Columbus in Licking County.

“While the pace of construction in Ohio may not be as fast, Intel has affirmed its commitment to Ohio as the new leadership of the company makes adjustments to its long-term strategy,” Gov. Mike DeWine said in a statement to the Columbus Dispatch in July.